Excise Duty
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Indirect tax collection increases by 5.6% During April-October 2014
Corrigendum to Office Orders No. 3/2014-CUS Dated 15.10.2014, 4/2014-ST Dated 15.10.2014, 5/2014-C.E. Dated 22.10.2014, 6/2014-ST Dated 22.10.2014, 7/2014-CUS Dated 22.10.2014 and 8/2014-CUS Dated 22.10.2014
Rate of Central Excise Duty increased on ‘Petrol’ and ‘High Speed Diesel’
Aluminum dross & skimming are excisable Goods
Excise duty exemption on bunker fuels used in ships /vessels
Cellular Mobile Service Provider not entitled to avail CENVAT credit on Tower Parts & Pre-fabricated buildings
DEVIL ARRIVES – Amendment in Cenvat Credit Rules’ 2004
Input Service beyond The Manufacturing Site
Changes in Cenvat Credit Rule 4(1) and Rule 4(7) after 10.7.2014
Initiatives to Facilitate Trade and Encourage Non-Adversarial Indirect Tax Administration
Excisability of Odoriferous compound/agarbathi mix arising during the course of manufacture of agarbathi – regarding
Excise – Regarding splitting up of rebate claims to avoid pre-audit
Interest is payable in case of inordinate delay in sanctioning rebate claim even if assessee did not challenge Order sanctioning refund without interest
Tribunal can extend waiver of pre-deposit beyond 365 days by a speaking order when delay in disposing appeal is not attributable to assessee
Latest Excise Duty News
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In today’s economic scenario the significance of taxes has increased and it now not limited to being a financial aid for the Governments. The Union or the Central Government imposes several taxes together with their state governments. Some of the taxes are also levied by local Municipalities as well. Excise Duty comes under the taxes which are levied by the Central Government as per the provisions laid out in the Excise Duty Act, Excise Duty Rules and Excise Duty notifications formulated by the Government.
Excise duty is an indirect tax which is levied on goods manufactured in India and are intended for home consumption. Manufacturing of the goods is the taxable event and the excise duty liability arises as and when the goods are produced. Excise duty is a tax on manufacturing that is payable by a manufacturer of goods, who passes the incidence on to their customers. The CBEC (Central Board of Excise and Customs) is the governing authority and it functions under Union Ministry of Finance’s Department of Revenue. Under the power conferred by the Central Excise Act, 1944, the Central Government levies taxes on production or manufacturing of goods. The excise tax rates are stated under the Central Excise Tariff Act, 1985.
At Taxguru, we provide you all the latest news on excise duty together with all the updates and excise duty notifications. We at regular intervals publish excise duty articles and blogs for the benefit of our readers. Get to know all the latest developments in the Excise Tax Act and all the latest amendments at Taxguru. Find out all the excise duty news and updates with respect to excise duty here at Taxguru. We ensure that we bring you all the accurate and comprehensive coverage relating to excise duty in India
